Miguel Caballero, the Founder, and CEO of Tutellus, in an interview with Barbaric investors, announced that the company is moving on to a blockchain model. The company has existed since 2013 but did not initially start off with the blockchain model. It operated like any other company in the world with no involvement of cryptocurrency or blockchain technology.
In the starting of April 2018, Tutellus had announced that it is migrating from Ethereum to NEM and now with NEM’s flexible, efficient, user-oriented blockchain platform, the company announces its new move.
NEM’s official tweet
Tutellus is a collaborative educational platform. They have put together teachers with students through video experiences. The platform focuses on the Latin countries. They have 1 million students approximately, 103 video courses and around 3000 active teachers. They aim to solve problems that students face with typical, existing learning platforms. 80% of their content is based on web development, video games, technology as these have high job potential.
CEO, Miguel Caballero says about Tutellus:
“We are very stable and profitable company”
As the company strives to widen its horizon and move to a worldwide scale, it aims to do so with the blockchain technology. Miguel believes that the decentralized blockchain technology will be beneficial compared to the classical centralized model as it will allow students or the users to earn tokens for learning and hence inculcate learning habit across the world.
It will further give the users and the teachers a say in what type of content needs to be created for a more efficient learning outcome. They believe that the company is just a platform, they are not experts in the skill.
The decentralized platform will allow the communities to decide the best suitable content for their community. For example, agriculture courses for a community that resides in an unfertile land are pointless. They need courses that benefit their community.
In the words of Miguel Caballero:
” The idea is to put the governance in the hands of the people”
STUT token can either be exchanged for TUT which later can be exchanged for money or one can retain STUT to showcase his relevance in the course and exercise influence.
This incentive model helps the platform to gain more content through the users who learned using the platform. The new model is aimed at engaging 100 million users.
The ICO is scheduled in June, the company’s expectation is to raise $40 million for the ICO out of which $20 million will be set aside for scholarships and $20 million will be used for the business. The CEO has high expectations and will be touring around the globe before the ICO to promote the new decentralized Tutellus platform.
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